As per Future Market Insights, the global Infant Incubators Market was valued at around US$ 311.6 Million in 2021 and is projected to exhibit a CAGR of 4.7% over the forecast period. It is set to reach an estimated valuation of US$ 518.2 Million in 2032.
The global infant incubators market is growing due to increased awareness regarding the health of newborns, rising prevalence of chronic infections, and surging cases of sudden unexpected deaths among infants in healthcare facilities. Additionally, the emergence of numerous epidemics and looming health risks they pose have further increased the demand for intensive care incubators across all healthcare facilities, thereby promoting market expansion.
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Besides, growing acceptance of infant incubators by various end users, including hospitals, as well as pediatric & neonatal intensive care units, would give the market a boost in the approaching years. The U.S. healthcare sector has been focusing on the importance of collaborative strategies by government bodies, which would boost the advancement in healthcare facilities. The National Network of Perinatal Quality Collaboratives (NNPQC), for instance, was established by the CDC and the March of Dimes to assist state-based PQCs in improving maternal and infant health outcomes statewide in a measurable manner.
These aforementioned factors will boost the market in the near future, as key companies are also concentrating on acquisitions and the development of novel products with improved efficacy in terms of environmental stability, infection protection, and durability.
Key Takeaways from Market Study
- By product, the intensive care incubators segment held approximately 72.3% of the global market share in 2021.
- Based on end user, the hospital segment generated a market share of around 51.7% in 2021.
- East Asia is considered to be the leading region in the market and it held a share of 22.3% in 2021.
- Europe accounted for a value share of 19.7% in 2021 owing to increasing number of preterm births in the region.
- China is projected to exhibit growth at a lucrative CAGR of 5.8% during the forecast period.
“Increased initiatives by government bodies to promote health safety solutions and growing prevalence of chronic illnesses among infants in healthcare facilities are estimated to propel the market,” says an analyst of Future Market Insights.
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Competitive Landscape
Although infant incubator producers are functioning at full capacity, demand has surpassed supply in recent years with the rising prevalence of chronic illnesses. The gap has had an impact on a wide range of end users, including healthcare practitioners and other industrial users.
The global infant incubators market is fragmented, and there are a wide range of regional, up-and-coming, as well as established businesses operating within it. Key stakeholders have started conducting promotional activities to introduce unique infant incubators with improved efficacy.
For instance,
- In April 2022, nearly two hundred portable incubators that were developed by utilizing technology co-invented by a Stanford MBA more than 10 years ago, were sent to Ukraine to offer life-saving warmth to babies born prematurely in hospitals and bomb shelters.
- Dräger’s new Ponta and Ambia ceiling supply systems, which went into effect on September 30, 2021, give hospitals a great deal of flexibility when designing workstations that support particular clinical requirements in the operating room, ICU, and NICU.
Infant Incubators Market Outlook By Category
By Product:
- Intensive Care Incubator
- Transport Incubator
By End User:
- Hospitals
- Pediatric and Neonatal Intensive Care Units
- Others
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